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Panacea hits 5% upper circuit on Unicef order
Panacea Biotec settled up 5% at its upper circuit limit of Rs 183. The counter clocked a volume of 11,424 shares as against its two-week average trades of 19,885 shares.

Hiring activity up 4.1% in September: Study
Hiring activity is finally picking up steam among Indian companies. The job index, Naukri JobSpeak, increased by 4.1 per cent in September, compared with August. In terms of the three-month moving average, the index inched up from 715 in August to 719 in September this year, making it one of the best months since April-May when the job index was as low as 664.

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Daiwa to buy out SMFG, ending bank venture
Daiwa Securities Group Inc, Japan’s second-largest brokerage, will buy out its partner Sumitomo Mitsui Financial Group Inc, ending their 10-year-old investment banking venture, two people familiar with the situation said.
Online Business

RIL discovers third gas reserves in KG basin

Reliance Industries (RIL), the country’s largest private sector company, has announced its third successive gas discovery in the exploration block KG-DWN-2003/1 (KG-V-D3), of NELP-V. The deepwater block KG-DWN-2003/1 is located in the Krishna basin, about 45 kilometers off the coast in the Bay of Bengal. The block covers an area of 3288 square kilometres. RIL holds a 90 per cent participating interest (PI) and Hardy Exploration and Production India Inc holds the rest. - RIL not cooperating in mill takeover, says Bihar minister - Tatas to promote IT SEZ in Chennai - Govt asks GAIL to assure gas supply to power projs - Advance tax kitty rises 20% during Apr-Dec - "Reliance not cooperating in mill takeover" - Big gap in demand-supply of skilled manpower: HR experts The well KGV-D3-R1, the third in this block was drilled at a water depth of 1982 m and to a total measured depth of 4113 m. The objective was to explore the Miocene deep water lobe and onlapping wedges play fairway. Three reservoir zones were encountered at Miocene Level having gross thickness of 4, 23 and 16 metres. The potential of these were evaluated through a wire-line based technology called Reservoir Characterization Imager (RCI). The discovery namely “Dhirubhai - 44” has been notified to the government of India and the Directorate General of Hydrocarbons. The potential commerciality of the discovery is being ascertained through more data gathering and analysis. The discovery supplements RIL’s understanding, of the petroleum systems within the block. 3D seismic has been acquired over the entire block area. Besides the above discoveries, several prospects have been mapped at different stratigraphic levels to fulfill the balance minimum work commitment of three wells. RIL is likely to drill three additional exploration wells on the block before the end of 2010. In August 2005, Reliance and HEPI were awarded D3 block under NELP-V. Reliance is the operator of the block. Exploration drilling commenced on this block in 2008.


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